The decision by the Scottish Nationalists to announce that if they do not get the currency deal they want they will default is almost lunatic. Not only would such a decision put Scotland out of touch with the money markets so that borrowing was impossible, it would destroy its financial services industry and hobble its prosperity for a generation. It creates an atmosphere of crisis and uncertainty about Scotland’s future which calls into question the whole integrity of the independence project. A vote for Yes is within a hair’s breadth of becoming a vote for chaos.
This is a very great pity because there are some very good reasons why an independent Scotland could be good for the Scottish people and also for the English. The time might well be approaching when, having done so much together that is good, they could in today’s world do even better going their separate ways. But the first requirement of such an adventure must be that it is lead by competent men and women who can back ambitions and aspirations with a responsible plan to achieve them. To approach independence without a comprehensive and workable plan for so basic a requirement as a currency is reckless. Many must now lose confidence in Salmond to deliver, because of this extraordinary display of incompetence.
As things stand, with polling by post under way, if Yes loses, it will be on this uncertainty about the money. If Yes wins, Scotland will be taking a leap in the dark to an uncertain future, resolvable only by an independent Edinburgh being shackled to London as Athens is shackled to Berlin. Without any members in the Westminster parliament to argue its case. What a mess.